Hong Kong on the outs ?

Like London

But the distinction between the two Pearl River Delta ports showcases China’s challenge to replicate developed-world standard financial infrastructure, even as its economy keeps expanding in excess of 6 percent.

“It’s always going to be the financial hub and the gateway — you’re never going to get rid of it,” Stephen Innes, the Singapore-based head of trading for Asia Pacific with Oanda Corp., said of Hong Kong. “It’s like London going through Brexit: obviously it’s not going to be the same place anymore but it will still remain the financial center.”

Shenzhen has shined amid China’s efforts to move up the value chain and go beyond cheap manufactured goods like plastic toys and simple textiles like T-shirts. The city is now an information-technology hub, with sector giants including Tencent Holdings Ltd., ZTE Corp. and Huawei Technologies Co. all based there — a jump Hong Kong has struggled to make.



This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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